Soaring Adobe Stock Could Still Climb About 33%, According to 1 Wall Street Analyst. Is It Time to Buy?

Generative artificial intelligence is driving growth now, but is it enough to justify a high stock market valuation?Shares of Adobe (ADBE 14.51%) shot about 14% higher on June 14. Investors were responding to a positive fiscal fourth-quarter earnings report.Adobe's latest round of results suggests the software giant has what it needs to monetize generative artificial intelligence (AI) applications. Nearly all sell-side analysts on Wall Street raised their price target on the stock.Wells Fargo analyst Michae ...